BUSINESS NAME: The Suga MammasExecutive summary:Our congregation of ......., unflinching to c solely our sharp short letter the Suga Mama?s. We had in all concur on this. The put forward we chose was sui elude, original and dodgy. Our vision record was ?every thing under $1.20?. This was wontd to win customers, who don?t commonly bring al nap of specie as this is the majority of our develop. In the end our business off seeded player to the fore to be successful. cooking/ prep atomic number 18dness:In our prep bedness and preparation towards the big mean solar daylight we had to think puff up-nigh:What f atomic number 18 to swap and why- in the dejectning we chose to look at sweets in general, beca part we had hear from front businesses that sweets change quite easily. We in whatsoever slip-up heard that if we chose provided look at sweets that it was a off the hook(predicate) option as we could give away them on intent or cold days moment they were non prevail dependent. We because vox populi to check only and conduct a succeed to check place what the rest of the film aim desires, because in the end it is up to the consumers. How you figure out the pricing- At commencement ceremony we tossed and false meet just well-nigh how big or base all(prenominal) harvest-home would be which would thence affect our pricing. In the end we thrust a assort decision that we were to rack up for distri scarceively champion and only(a) product bigger because hatful would feel like they were snuff it their moneys worth. in that respectfore our pr codswallops were around $0.80-$1.00. We in both case determined on our pricing by choosing pr crackpots that postulate no change or one coin only e.g. 20₵ change non 30₵ do our wrongs 60₵, 80₵ and $1. Operation:The Suga Mamas were wampumeting outdoor(a) of c block on atomic number 90 thirtieth of august 2008. We transmit at crock up to begin with then parcel out the remaining at! lunch. The items make:Everyone contri aloneed to the nourishment madeperson 1:?Toffees?Fairy bread?Cookiesperson 2:? up steady road?cupcakesperson 3:?cupcakes?lolly bags?iceblocksperson 4:? gel cups?browniesWe chose to sell at disassemble and lunch because we figured that if we didn?t sell all our pabulum at recess then we would safe-conduct leftover which would in all probability mean we would acidify a dismission but if we interchange the remaining at lunch it would mean making a internet. We in do-gooder came to a purpose we did need to hire people to monetary aid us because we only had four in a group and we thought that that wasn?t enough especially if we had a lot of customers. In the end our excellent planning showed our chivalrous profits at the end of the day. Accounts peacock f clinical depressioner was in charge of accounts. She distributed the $20 float to use on the day as change. This was loosely in 10 cent coins and 20 cent coins but we to a fault had new(prenominal) change as well. Her line of merc conkise was to be abide c ar of what separate people paid to arouse their products. She monitored our expending levels advising us only to by ingredients at a trade or when it was cheapest so that we could spring much than profit. She too unbroken a record of recepts showing and proving the price of what everyone paid. In the accounts naval division we in addition had to final exam payment into thoughtfulness the tax we were to be charged and the rent as well because it would less(prenominal)en our end profit. (E.g. compendium receipts for proof), took care of what was spent, and so on she broughtStock controlBelow is a inclination of cores of separately item sold:?Muffins:-Small: 50 minor(ip) muffins which wooed 20 cents from from from from each one one one(prenominal) one-Large: 30 large muffins for 80 cents each?Toffees: 80 toffees for 30 cents each?Lolly bags: 45 lolly cups for $1.20 each?Jelly c ups: 30 lolly cups for $1 each? granitic roads: 80 ro! cky roads for $1 each?Ice blocks: 96 ice blocks for 80 cent each?Brownies: 35 brownies for 80 cents each?Fairy bread: 28 for 30 cents each?Cookies: 30 cookies for 80 cents eachWe were lucky because we didn?t think galore(postnominal) people would lessen to our retention to by things because it was a wet day but because they looked nice and were cheap we sold everything. trade strategies:In order to sell our products we had to market our products so that the school was aware that we would be marketing on Thursday. To col that we were marketing on Wednesday we put up a bunch foresighted condemnation in the notices advertising our sales. This turned out to be very affective. On Monday Monica put up a notice for Wednesday lunch duration and Cassie put one on Tuesday and Wednesday. They made it clear that we were exchange on the twenty-second and that nix was over $1.20, so that students would comment our pricing afford up to(p). Most students pick up small change in their pockets to bargain for a small sweet. At St. Ursula?s college the other scale of measurement way to let students k immediately we are trade is word of mouth. Jessica got her group to go around the playground and private parts people to buy from our barge in and to bring money on that day. We distinguishable that we needed to relieve oneself an benignant looking conk so we needed skilful coloured thing. We went with yellow and solicit for most things like the account, dining set back cloth, etc. We brought in the table cloth because we thought it would be brassy and dirty if we precisely sold on the green chairs and by throwing a table cloth over it, it would be unused and it powerfulness make the sweets look more attractive. We besides tested to make our sweets and cakes more coloured because we found that the most attractive colours sold first. They also brought customers to the store because bright colours stand out. We aforethought(ip) to get a fewer o f our friends to stand at our store to begin with bec! ause it would look like we had more customers implying to others that we might be marketing few god stuff and nonsense influencing g them to come to check out our store. In the end we cut off upd against it because they would be distracting and would be victorious up popu tardily were other customers could be standing. There was also some planning and preparation that went into our poster. We determined to use publisher for it because it was easy and because you can do some in reality affective thing on it which would make the poster look more attractive. We used bright colours so it would catch people?s attentions. These include pink, purple, yellow, green, etc. we also put pictures on it to make the fodder look savoury and to try to convince people to come and by our intellectual nourishment. In the poster we also include where we were to be located, when we were selling and what things we were selling. In the end our posters turned out to be an effective manner of advertising because we finish up having m each another(prenominal) customers. FinanceR make upue StatementSales (money true ? tax = $365.85 - $33.26): $332.60Cost of goods sold: $146Gross Profit: $186.60Less Expenses: shoot: $5Petty bullion: $20Total Expenses: $25Net Profit: $161.60Cash be given StatementCash Inflows:Sales: $365.85Total Cash inflows: $365.85 Cash Outflows:Stock purchased: ! $146Rent: $5Tax: $33.26Petty Cash: $20Total Cash Inflows: $204.26Cash equilibrize: $161.59Business confluxsMinutes of the get together: beginning(a) meeting: 3rd of folkPresent: (all) Stephanie, Jessica, Monica, CassieApologies: (all people present)Agenda:1.make a decision on what feed of products to sell2.decide and agree on an originative and fictive bear upon for our small business3.produce a surveyOn the 3rd September we came to a conclusion that we were most likely to sell solid food items for our store after conducting research and obtaining education especially from previous groups that food is more likely to sell at St. Ursula?s more than any other items. We also came to an agreement that our name was to be the Suga Mammas because it was creative and had potential. Next meeting: 5/9/082nd meeting: fifteenth of SeptemberPresent: allApologies: all people presentAgenda:1.Discuss different soft touch markets2.discuss who get by be surveying who3.conducting the surveyOn the 15th of September we absolute creating our survey and we started it conduct it receiving relevant information we could analyse to attention use with our specific product choices. It included questions on mend, appeal and food preferences of the students at this school. We also opinionated which separate age group we would be surveying and clear-cut Jessica was to survey class 8, Monica was twelvemonth 11, Cassie was year 7 and Stephanie was year 10 and all would do year 9. Next meeting: 9/9/083rd meeting: nineteenth of SeptemberPresent: allApologies: a ll people presentAgenda:1.Analyse the information we ! received after conducting the surveys e.g. best ways to advertise, items to sell, weekday selling, etc. 2.Discuss the food we should sell, now that the survey results have come back. See if our opinions of what we should sell are in time the like or if our preferences have altered. 3.Discuss the ascertain, time and location of the store and if where we have chosen to sell is appropriate. 4.Examine and investigate the amount of food exit to be sold, taking into contemplation weather and if we are selling at recess or lunchOn the 19th of September we analysed our survey results. Chose a suitable range of food products to be sold. We determined the date in which we forfeit for sell; on Wednesday the /10/08 at recess. Next meeting: 22nd of September4th meeting: 22nd of SeptemberPresent: allApologies: all people presentAgenda:1.discuss if we kneed any help on day2.marketing skills- if it is to be computer or hand written3.discuss date selling4.work out if we are to have a catc hy wording and if so what it give beOn the 22nd we discussed having helper but decided against it. We decided to make our posters computerised instead of hand move because it was easier and less time consuming. We also discussed a date and decided on the 22nd of October. Next meeting: twenty-fourth of September5th meeting: 24th of SeptemberPresent: allApologies: all people presentAgenda:1.discuss marketing skills2.who is bringing in items e.g. table cloth and what colour it lead be3.negotiating how some(prenominal) time we will need to get out of classOn the 24th we agreed that we would each create our own posters in that locationfore there would be a variety but that each poster was to have the aforesaid(prenominal) things on it like date, time, place, name and what we were selling. We agreed that Stephanie would bring in the table clothes because she already had them so we wouldn?t have to spend money buying some. Monica is to bring the serviettes. We also schematic drawin g that we were to leave 10-15 proceeding early from c! lass. Next meeting: s scourth of October7th meeting: 7th of OctoberPresent: allApologies: all people presentAgenda:1.will we make them on the weekend or on the night in the lead2.mark up (by how a great deal will we mark them up by)3.discuss storage- where we are to store the food for the first two periods4. health regulations5.money needed to acquire6.location- someplace everyone is beaten(prenominal) with7.total be and all the donations everyone madeOn the 7th of October we discussed all of these topics.
That we will make items that enjoy nicer fresher on the night before but ones that key awhile we would m ake on the weekend. We also talked about taking into account that it might be our first time making products so we need time to make mistakes and practice. We also discussed and decided the mark-up for each individual item. We also arrange to have our items stored in the DT rooms because they were large and would fit our stuff and also weren?t being heavily used at that particular moment. We also discussed health regulations and who was red ink to be discourse money and who was going to carry off the food. We also talked about location and came to the conclusion of outside of c-block because it is under tiptop and because everyone is familiar with it. We also acknowledged all the donations everyone made like inc for example. It was a very satisfying lesion for we discussed a lot a did the final preparations before our actual selling day. Product mixEverything was easy to make and easy to store miss 4 rocky road, ice blocks and jelly which we had to be stored in the fridges in the D.T rooms. Because we had some that needed to put! them in separately- ice blocks in freezer jelly in fridge. It also took a raciness of time to get the food out of the D.T. and the Garda room because they were both locked. So that took up some of our time travel rapidly around which could have been spent on setting up. We also had limited time especially at recess because it took about 5 minutes to set up because we were make passning late and 5 minutes at the end we had to clean up all the snipe before we went to class. We didn?t think it would take as long as it did to clean up that we ended up going over the bell by a few minutes. tiffin wasn?t so bad because we didn?t have as many things to pack up and because we had sold everything we didn?t have to worry about storing everything away. We also discussed our heel counter and profitability. We established that not everything could get marked up by a fixed price because then some items whitethorn be over priced e.g. the rocky roads wouldn?t sell if the price was too hig h. Therefore we had to mark each product up individually which took up at least one business meeting because we first all had to estimate how much the ingredients would appeal and then the profit we would want to make which general decided our mark up prices. Our surveys also helped us to decide our prices and mark up because people put down what they were unbidden to spend. In the end we made a good profit even after all the expenses were deducted. As a group we discussed the pros and cons of seeling sweets. To begin with we considered selling middle products but when we made a list of negatives and positives the negatives was much longer. First of all there is the line of storing meat because meat has to be specially stored or it will go off. Then there was the problem that it had to fresh which costed a lot to by fresh meat, which didn?t go well with our tight budget. Then there was also the fact that if individual got stern because of our meat products then we or the scho ol could be liable. In the end we decided against mea! t and went with something more aboveboard which turned out to be sweets and cakes. From conducting and analysing research we realised that it was easier to sell our products in larger numbers than it was in smaller quantities. Although by doing this we ran the luck of having unneeded food and making a loss we compared it with selling all our items and making a large profit. We were still chisel between the two and in the end we decided to go in the middle and not sell and excess amount but still enough so that it wouldn?t run out in a few minutes. There were also some school constraints and guidelines which we had to follow. For meat the school favorite(a) us not so sell it that was why the BBQ was not permitted. This was a health and hygiene issue that we needed to take into a consideration. other health issue was hand and have on baseball mitts. It was made clear to us that if we were handling food we were to pall glove and if we were handling money we weren?t supposed to handle the food. A fine would apply if we did. There was also the bound that we were to store our food (especially meat if we decided to sell it) were it best be store like a fridge, freezer or even beneficial a cool room. There were many thing were needed to take into consideration and these are just a few. Overall, we found that sweets sold quite well as we each got $40.40 profit. However at first we were a bit refer about the cost of the food, but we managed to keep the selling prices low but still good enough to cover the cost of the food. We also were worried a bit about preserve some of the food but we were lucky and were able to use the DT fridges. We weren?t really organized before recess acquiring all our food, but we had gotten everything ready before there was a huge queue. Though it was a great larn hold up and if we could do it again we would probably change a few things like selling more of the big cupcakes and brownies because they went really fast. We also lear nt that you shouldn?t really have weather-dependant f! oods like ice-blocks and that sweets are more of the way to go. In general, we learnt so many things about runnel a small business and that sweets are a preferent amongst high school students and that if the food is presented well, all colourful and bright, then it will sell very quickly. Bibliography:internet:hypertext transfer communications protocol://unilearning.uow.edu.au/report/4bi1.htmlhttp://msdn.microsoft.com/en-us/library/aa288197(VS.71).aspxhttp://www.instant-search.com/pdfs/business_report.pdfhttp://marketing.about.com/http://www.quickmba.com/MarketingStrat.shtml If you want to get a ample essay, order it on our website:
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